Problem postings (2)

Advance notice

On December 25, Pan reposted a message from SOHO China's Weibo account, saying that Yuanda China Holdings, also a Hong Kong-listed company, had won a bid to join a SOHO China project in Beijing.

"Congratulations Yuanda China Holdings for winning the tender," he wrote, before Yuanda China had made any statement on the matter. The message also came one day ahead of the official announcement on SOHO China's website.

It was this particular Weibo post by Pan that triggered the complaint from the 20 investors.

"It is not fair for investors who are not followers of Pan's Weibo, as they might not get to know about the bid," Huang Jianzhong, a finance professor at Shanghai Normal University, told the Global Times Monday.

Li Weidong, research director at Beijing-based consulting firm ChinaVenture, also noted that listed companies should have an authorized channel to release business-related information, so that investors can get equal access to the information.

Pan has made similar posts in the past. In a Weibo message posted on December 6, Pan disclosed that Zhejiang Hangxiao Steel Structure, a Shanghai-listed firm, had won a contract to develop a SOHO China project. The company's share price rose 6 percent after the post was seen.

In a similar post in October, Pan said that Beijing's Jiangho Curtain Wall, also a Shanghai-listed company, had won a SOHO contract, and its share price rose 1.86 percent within six minutes of Pan's Weibo message.

Experts noted that Pan's messages were a major reason behind the price fluctuations of these companies.

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